Singapore collects S$97.3 billion in tax revenue, up 9.4%
The Inland Revenue Authority of Singapore reported total tax intake reached S$97.3 billion for the 2025/2026 financial year, representing a 9.4% increase.
Singapore collected S$97.3 billion in tax revenue during the 2025/2026 financial year, marking a 9.4% rise from the prior period. The Inland Revenue Authority of Singapore released this data on Friday, September 4, attributing the growth to stronger economic activity and increased consumer spending. These collected funds constitute 74.8% of the government's operating revenue and equal 12.3% of the nation's gross domestic product. IRAS stated that these resources enable strong community building, improved public services, and enhanced infrastructure while supporting sustainable growth. The arrears rate for Goods and Services Tax, income tax, and property tax stayed low at 0.64% of net tax assessed, indicating firm taxpayer commitment. Officials noted they will continue taking action against individuals who wilfully evade obligations.
